IHSG Remains Volatile, These Stocks Are Worth a Look
The Jakarta Composite Index (IHSG) ended trading on Wednesday (1/7) in the green, rising 0.92% to 5,695.12. The strengthening was primarily driven by gains in BREN, TLKM, and BRPT. Conversely, BBRI, BMRI, and CPIN weighed on the index’s movement. Foreign investor activity still showed a net sell of Rp548.40 billion in the regular market and Rp577.79 billion across all markets. Sectorally, seven out of eleven sectors closed higher, led by the energy sector which rose 2.61%, while the transportation sector recorded the deepest decline at 0.91%.
From global markets, United States stock exchanges closed lower. The Dow Jones Industrial Average edged down 0.03%, the S&P 500 corrected 0.22%, and the Nasdaq fell 0.66%. The weakening was influenced by several sentiments, including a trade deficit, a contraction in the manufacturing PMI, and the suspension of 16 stocks for failing to submit audited financial reports for the 2025 fiscal year and/or not completing the obligation to pay fines for late submission of financial reports. Domestic market movement was also overshadowed by a 0.27% weakening in the EIDO ETF, although the MSCI Indonesia index strengthened by 0.13%.
In terms of corporate actions, PT Trimegah Bangun Persada Tbk. (NCKL) is accelerating the completion of three strategic projects in the Obi Island Industrial Estate, North Maluku. The three projects include the construction of a third Rotary Kiln Electric Furnace (RKEF) nickel processing facility, a limestone processing plant to produce quicklime, and a tailings recycling facility. Through its subsidiary PT Karunia Permai Sentosa (KPS), the third RKEF smelter project is being built with 12 production lines and has an installed capacity of 185,000 tonnes of ferronickel (FeNi) per year. The facility is targeted to be fully operational by the end of this year. With the additional capacity from KPS, Harita Nickel’s total ferronickel production capacity on Obi Island is projected to increase to 305,000 tonnes of nickel per year by the end of 2026.
Furthermore, PT United Tractors Tbk. (UNTR) is again implementing a share buyback programme with a maximum fund allocation of Rp2 trillion sourced from the company’s internal cash. This programme runs from 1 July to 30 September 2026. In the previous period of 1 April to 30 June 2026, the company also allocated Rp2 trillion for a buyback. However, the realisation only reached Rp860.35 billion, or approximately 35.53 million shares, leaving an unused budget of Rp1.14 trillion from that period. As of the end of the first quarter of 2026, UNTR’s cash and cash equivalents were recorded at Rp20.56 trillion. After accounting for the previously realised buyback funds, the cash position is estimated at around Rp19.70 trillion. If the entire latest buyback budget is realised, total assets are projected to be around Rp180.50 trillion, while total equity is estimated at Rp99.20 trillion. The company also estimates that proforma earnings per share (EPS) will increase to around Rp185 after the buyback implementation.
Additionally, PT Erajaya Swasembada Tbk. (ERAA) has set a cash dividend for the 2025 fiscal year at Rp25 per share, with a total value of approximately Rp389.62 billion. This amount is equivalent to a dividend payout ratio of 32.58% of net profit attributable to owners of the parent entity. Throughout 2025, ERAA recorded net sales of Rp76.61 trillion, growing 17.35% compared to the previous year. Net profit also increased by 15.83% to Rp1.20 trillion. Based on the closing share price on 1 July at Rp318 per share, the dividend reflects a yield of approximately 7.86%. The company has set the cum dividend date in the regular and negotiation markets for 7 July, while the dividend payment is scheduled for 31 July.
Stock Recommendations for Today:
NCKL: Buy 805-810 | Target Price 825-835 | Stop Loss 765
MBMA: Buy 496-505 | Target Price 515-525 | Stop Loss 475
ISAT: Buy 1775-1785 | Target Price 1805-1820 | Stop Loss 1695
ERAA: Buy 362-364 | Target Price 370-374 | Stop Loss 346
JPFA: Buy 1990-2010 | Target Price 2030-2090 | Stop Loss 1915